Tigran Gambaryan, the detained Binance executive in Nigeria, will remain in custody until a bail hearing on May 17. Meanwhile, his trial is scheduled for May 2.
More Jail Time in Nigeria
The extension of Gambaryan’s remand was granted by the Nigerian court yesterday (Tuesday) amid opposition from federal prosecutors to the appeal for bail. The crypto exchange’s executive has already pleaded not guilty to charges of tax evasion and money laundering.
Gambaryan holds the position of Head of Financial Crime Compliance at the crypto exchange. He and another fellow Binance executive, Nadeem Anjarwalla, who holds the position of its African Regional Manager, traveled to Nigeria in an official capacity earlier this year but were detained by local authorities.
Nigeria’s Economic and Financial Crimes Commission brought four counts of tax evasion charges against the exchange and the two detained executives. The charges primarily blame the defendants for non-payment of value-added tax, income tax, and failure to file tax returns. The exchange has been accused of aiding Nigerians in evading tax through its platform.
In an earlier statement, the exchange made it clear that the two executives were wrongly blamed as they did not have any decision-making authority.
The Great Escape
Meanwhile, Anjarwalla, one of the detained defendants and a citizen of both the UK and Kenya, escaped detention earlier this month and reportedly fled the country. Although his UK travel documents were seized by Nigerian authorities, he allegedly used Kenyan credentials to flee the country on a Middle Eastern airline.
Several local Nigerian publications recently reported on Anjarwalla’s arrest in Kenya and possible extradition to Nigeria to face trial. However, Anjarwalla’s wife came out and denied all these reports.
Yuki Gambaryan, the wife of Gambaryan, launched a petition requesting the US State Department, Nigeria’s Economic and Financial Crimes Commission, the Nigerian government, and US President Joe Biden to return her husband to the US.
This article was written by Arnab Shome at www.financemagnates.com.
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